The new clause, which is designed for use in a broad range of contracts, is due to be published in May 2019.

It requires parties to have plans and procedures in place to protect its computer systems and data, and to be able to respond quickly and efficiently to a cyber incident.

HFW is the only law firm on BIMCO’s drafting committee for this clause. Its team is led by senior associate William MacLachlan and also includes partners Elinor Dautlich and Toby Stephens and associate Henry Clack.

William MacLachlan, senior associate, HFW:

“As the shipping industry wrestles with how to respond to the cyber threat, this clause aims to lay down a benchmark for cyber security measures and explicitly address the question of liability for a cyber security incident. We are pleased to have been able to support BIMCO, the other members of the drafting sub-committee and the shipping community generally on this important and topical point, and look forward to seeing how it is taken up and implemented by the industry.”